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Looking for advice from experienced, American real estate agents
DreamBliss posted a topic in The Rabbit Hole
So as I have said my grandmother is selling the house. The property is classified as flat land and it is located in the Clark County, WA area. The house was built in the 1930's by hand and has to be sold as-is because it needs a lot of work. The barn may be even older, but it too needs some work. The barn has a wood and dirt floor, the house 2 stories and no basement. There are 4 and 1/3 acres with a well and some mature timber. There are fruit trees, an overgrown orchard, blueberry, raspberry and blackberry bushes. Sewer, driveway, all that is there as well. My grandmother got in touch with a real estate agent, a friend of a friend, and the agent told us we might be able to sell it for something like $140,000 initially. This same agent brought in an enthusiastic buyer, claiming to be looking for a place for his family, who was willing to pay $170,000. The agent's wife (they work as a team apparently)has brought over this man, his wife and his brother, who he is in business with. They were interested in the land but paid little attention to the house. There is a neighbor with a piece touching our land at the rear, 2 acres, she will sell at the same time we sell ours, but through a different agent. She thought the figure grandma had been given was too low. She has 12 years+ experience in real estate. She set up a meeting with a managing broker, and it went sideways, because as soon as we mentioned grandma had been working with this other agent he bailed. Said he couldn't help us, it wasn't ethical, we had to stick with the agent we had until we cut all ties with him. He just got up and left. I thought this was very strange, because how is someone supposed to get the best price possible unless they shop around? Understand that no papers have been signed, no verbal agreements have been given. Our neighbor since found someone else, an agent and investor with 25 years of experience, a "top producer" as she called it. Exactly what she said we needed, someone with a lot of experience who was a top producer in their company. This man says we have been given a low ball offer and it sounds like the agent my grandma first talked to was a "buyer's agent" likely representing these people he had brought in, probably to redevelop the land. The agent gets a bonus for finding the house, and makes profit on its sale after it is redeveloped. It feels right to me, that this is perhaps what these brothers in business were intending to do. This man then proceeded to explain that he sold a property up the road from us, 3.5 acres, 40's house, tear-down barn, flat land, listed at $275,000 and sold for $307, 000 with two weeks to closing. My dad does not believe the land in this area is worth $100,000 an acre. My grandma doesn't want any conflict with Ken and these buyers. They would rather just sell it through Ken and be done with it. But my grandma has to live on whatever she gets for the sale after all the fees and taxes, plus the expenses of moving, and she will likely be paying $3,000 a month for assisted living. So the money won't stretch very far, and it completely leaves the three children out of any sort of inheritance or financial help. Where will my mom and dad move, and how will they pay for it? I can't find anywhere for average or median values of land per acre in this area. This man says the lowest he saw in this area for 1/2 acre was $259,000. He will come over and walk the land, giving us his estimate tomorrow. Just a few questions for now... Is there anything to what this management broker said about ethics? Are you expected to stick with the first real estate agent you talk to, and not ask around? If you have real estate experience, and have sold property in the Camas or Washougal area, what would you expect to get for a place like my grandmother's? How is the value calculated, is it so much for the land, so much for the house, etc? Maybe it's $200,000 just for the land, which would come to $50,000 an acre, and $100,00 for the house and outbuildings? Is there any way to check and see what a fair price for this property is? Anything online? Also is there any way to investigate this first real-estate agent my grandmother talked to? Anything online for that? What resources are available to be sure that a seller is getting the best price and working with a reputable agent? I will add more questions later if I have them. For anything you consider to be too personal to post here, please PM me. I appreciate your help with this, and any help you wish to send in any form such that my grandmother gets the absolute best price for her property, the time she needs to pack up and move out, a spot in the assisted living center of her choosing, help packing and sorting things, the best licensed movers available to move things for her, my parents and myself who are able to travel anywhere in Washington state as needed, and anything else needed for a smooth, quick sale to my grandmother's and her children's advantage. Thank you.